Govt Approves 1.6% Hike for 635,000 Pensioners

TIRANA, July 27

As of August 1, some 635,000 Albanian pensioners will get a hike in pensions by 1.6 percent. The decision was confirmed Wednesday by Minister of Social Welfare and Youth Blendi Klosi after the conclusion of the Council of Ministers meeting.
According to Klosi, this year’s hike is higher compared to the previous year when pensions increased by 1.3 percent.
“This is the first time that the pension increase was calculated based on the price of the basket of goods and services for pensioners. This gave us the opportunity to set a pension increase higher that the consumer price inflation basket of goods and services for the other part of the population,” Minister Klosi said.
Moreover, he said that the financial impact of the implementation of the decision for the remained part of the year is estimated to be Lek 662 million and it will be afforded by the pensions’ funds planned by the state budget 2016.
Another decision adopted by the Council of Ministers is the one on state pensions for distinguished personalities in art, culture, sport and science.

News Source: ATA